AB

Update | Technical
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that it will take effect for
reporting periods (financial
years) ending on or after
31 March 2017.
The guidance issued for
consultation still retains the
requirement that trustees
should select a person who
is a member of one of the
accountancy bodies ‘listed
in the 2011 act as amended
by the 2015 order where
the charity’s income is over
£250,000. Where the charity’s
income is £250,000 or less,
trustees must be satisfied that
the examiner has the skills and
knowledge required.’
The main proposed
changes are to reporting to the
Charity Commission and to the
independent examiner’s report.
The new report has sections
highlighting the responsibilities
and basis of the report, and
the independent examiner’s
statement. An example from
the consultation is clear on
the role of the independent
examiner. In the explanation
of the responsibility ‘that there
is further information needed
for a proper understanding of
the accounts’, the guidance
highlights matters that require
explanation and/or further
investigation. Although the
suggested report seems
more far-reaching than its
predecessor, the current
guidance 10.7 and 10.8 and
proposed guidance 13.11
to 13.14 for independent
examiners are similar. More at
bit.ly/cc-consult.
Tax
Making tax digital
The consultations continue
to arrive on ‘making tax
digital’. The proposals seem
to place additional burdens
on businesses. Do they fulfil
the aims highlighted earlier
in the year? As a reminder,
the government continues to
say that the reporting system
will be much quicker, easier
and far less burdensome
than the current process, that
keeping records digitally will
reduce error, and the data
will allow HMRC to focus
its attention on the small
minority of small businesses
that are evading their taxes
and not on those who are
trying to get it right.
What is your view? You
can find more on ‘making tax
digital’ and ACCA’s activities in
this area at bit.ly/acca-tax.
You can continue to send
your valuable comments and
views on the initiative and the
individual consultations to
advisory@accaglobal.com
with a subject line ‘Making
tax digital’.
HMRC guidance
HMRC has updated its senior
accounting officer guidance
(SAOG), including:
a change of practice
*
allowing submission of
certificates by electronic
means in addition to
the currently accepted
methods (SAOG 15600
and 15700)
new examples of how
*
groups and aggregation
should be applied (SAOG
11280 and 11301)
clarification on the inability
*
to delegate the SAO role
(SAOG 12100) and time
limits for short or long
accounting periods (SAOG
13410 and 15710)
clarification about when
*
requests for extensions
to time limits for SAO
notification or certificates
will be considered (SAOG
13100 and 15700)
*
clarification of the SAO
role where a company is
struck off (SAOG13500
and 15900).
SAOG 15700 highlights
that more time to file is not
allowed ‘simply because
an SAO wants to submit
one certificate covering a
number of group companies
whose financial years do
not end on the same day.
Companies and groups will
be aware that the year ends
are not coterminous and this
situation does not arise from
a sudden or unexpected
event. SAOs should plan to
provide a certificate to ensure
that they meet the time limit
for any particular company.
This will be the date that the
earliest certificate needs to
be provided. If this is not
possible the SAO can provide
separate certificates.’
The manuals are at bit.ly/
hmrc-saog.
HMRC toolkits
HMRC has updated a number
of toolkits for 2015/16. As with
those issued for past years
they include checklists for
common errors. You can find
them at bit.ly/ta-check. »
07/2016 Accounting and Business